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Trump Trade War - Turkish steel industry says fulfills all conditions- CIB

Steel News - Published on Fri, 16 Mar 2018

Image Source: minews.ir
Daily Sabah reported that Turkish Steel Exporters' Association (Ç?B) Chairman Ekinci has said Turkey deserves an exemption from the steel levy, according to the three criteria Trump cited. He said that the country has already fulfilled all requirements that US has set for exemption from steel tariffs, adding it should be exempted from the 25% levy. In a written statement, Ekinci said the conservative measures put into effect by Trump, while there is such a worldwide reaction, will adversely affect both world trade and the American economy.

He noted that they were facing an unfair situation in the sector from all possible aspects. He said "The 25 percent tax rate on steel imports, officially undersigned, is not equal and just with a side that grants privileges to certain countries and leaves the door open to some for exemption. As expected, the U.S. exempted its two neighbors Mexico and Canada from taxation during NAFTA negotiations. There are also reports of ongoing talks with Australia. Turkey's sitting at the table with the U.S. as soon as possible is of vital importance for our steel sector."

Ekinci said that for exemption from the Section 232 of the Trade Expansion Act of 1962, Trump briefly referred to three points, namely imbalance in mutual trade, steel trade with China and military spending. Pointing out the imbalance in bilateral trade relations and that Turkey was the one suffering more from the deficit, Ekinci said steel imports from the U.S. reached $1.33 billion, while exports stand at $1.18 billion.

He said that with regard to the illegal export of Chinese steel products with or without treatment with the U.S. through trans-shipment, Turkey is not involved in this situation at this point because it procures steel in very small quantities from China and uses it for its own needs. He added that the raw materials of all Turkish steel products going to the US come from the US, before being processed in Turkey and sent back. He informed that Turkey's overall steel imports from China in 2017 stood at only 700,000 tons, totaling 1.87 percent of the total production.

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Posted By : Nanda Koijam on Fri, 16 Mar 2018
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